How Much Do Insurance Agents Make in Illinois?

Short answer: The mean wage for insurance sales agents in Illinois is an impressive $105,150 per year (around $50.55 per hour). But insurance agents in hot markets like Chicago earn even more!

Insurance agents (also called insurance producers) are in high demand in Illinois. The industry is growing, with an estimated 3,400 positions per year to fill through 2032. And these Illinois professionals are well-paid for their services. In fact, according to the U.S. Bureau of Labor Statistics (BLS), the only states with higher median wages for insurance producers are New York and New Jersey.

Want to know how much you could make as an insurance agent in Illinois? Here’s a breakdown of the local pay rates.

How Much Insurance Agents Make in Illinois

BLS data shows that the median wage for insurance agents in Illinois is a strong $105,150 per year.

Illinois insurance agents outearn their counterparts in high-cost-of-living states like California (where the median is $89,230), and Hawaii (where the median is $67,950).

There is, however, a wide range of pay rates for individual agents within Illinois. This is because many insurance producers are independent, meaning they earn commissions on insurance sales rather than earning a salary or hourly rate as a traditional employee.

Working on commission means your income is directly tied to your productivity. The more you sell, the more you earn. So agents who hustle may be in the top 90th percentile of earners, making $113,760 per year! This arrangement also provides flexibility for agents who want to work part-time. Agents in the bottom 10th percentile of earners (many of whom don’t work full-time) bring in a respectable $37,600 per year.

Highest Paying Regions for Insurance Agents in Illinois

Insurance agents in the Chicago metro area earn a median rate of $116,710! This is the third highest-paid metro in the county for agents, behind New York’s Utica and Watertown-Fort Drum.

But agents in other Illinois metros are earning good money too! Here are the mean wages in smaller Illinois markets:

• Bloomington: $84,620

• St. Louis Metro (with East St. Louis on the Illinois side of the river): $82,320

• Champaign-Urbana: $78,010

• The Quad-Cities (Moline, East Moline, and Rock Island on the Illinois side): $75,210

• West-Central Rural Illinois: $72,070

• Carbondale-Marion: $66,290

• Rockford: $65,390

Even agents in the lowest-paid region, Rural Southern Illinois, earn a median of $55,530. Considering the lower-than-average cost of living in Southern Illinois, this amount represents a relatively strong income.

How to Boost Your Earnings as an Illinois Insurance Agent

There are multiple ways to increase your earnings as an Illinois insurance producer:

1. Focus on higher-commission products. Life insurance, for example, typically offers a higher rate than renter’s insurance.

2. Add lines of authority to increase your product offerings. A line of authority is the specific type or category of insurance you’re licensed to sell. For example, if you are licensed in the Property line of authority, you can sell property-related products like home insurance and renter’s insurance. The more lines of authority you have, the more products you can sell, and the more money you can make. Consider popular lines like Life, Health, Property, and Casualty for a strong foundation.

3. Consider expanding into business and commercial products. Commercial insurance products, like professional liability insurance, often pay better than personal products.

4. Prioritize client retention. Many policies offer bonuses for every renewal. So getting your clients to renew can create steady recurring income.

5. Master lead generation. The more clients you have, the more you can earn. So invest in networking and fostering relationships with prospective customers.

How to Become an Insurance Producer in Illinois

If you’re not already in the industry, there’s no better time to join than now! You might be surprised at how easy it is to earn your license and start your insurance sales career. Here are the requirements:

• You must be 18 or older.

• You need to complete a state-required pre-license education for each line of authority.

• You must pass a state licensing exam for each chosen line of authority.

Once you have your license, you can be appointed by one or more insurance providers, authorizing you to sell that provider’s products to your new clients!

Enroll in Your Illinois Insurance Classes Today

Are you ready to earn your Illinois insurance producer license? Or maybe add new lines of authority to your active license?

Enroll in an online insurance course today to launch or grow your Illinois insurance sales business!